Well the idea is that you're sac ranking will also corresponse to your exam ranking, because your sacs have been of a difficulty level sufficient to accurately determine where in the class each student stands, and hence predict their exam performance relative to the other students in the class.
The idea is that the first ranked student would do best in the exam, followed by the second ranked student and so on.
However it means indeed that if you screw up the exam, you are rewarded for your solid work during the year.
It also means however that things like cheating and overly easy sacs which can distort the true ranking can hurt someone's chances of achieving to their maximum potential if they find themselves buried in the sac ranking under people who are likely to do worse in the exam than them, and hence bring them down.